report January 14, 2022 Biden’s nominees would bring diversity to the Fed—if they’re confirmed President Biden has announced his roster to fill key vacancies on the Federal Reserve’s 7-seat Board of Governors. If confirmed by the Senate, Biden’s nominees would advance his economic agenda at the central bank. They would diversify the ranks... By Brookings Institute, Post Brookings Institute
report January 12, 2022 The populist backlash in Chapter 11 From a bankruptcy perspective, the pandemic has unfolded differently than many expected. Prior economic crises have caused sharp upswings in bankruptcy filings. The 2007-2009 crisis was true to form, with business bankruptcy filings doubling during this time, to 60,837... By Brookings Institute, Financial Institutions Brookings Institute
report January 6, 2022 Who should regulate: Chairs or majorities of the board 2021 ended with a mini-crisis at the Federal Deposit Insurance Corporation (FDIC) resulting in the chair resigning after being outvoted by a majority of the board of directors. While this fight received substantial press attention, a similar fight occurred... By Brookings Institute, Financial Regulation Brookings Institute
report December 15, 2021 Opening statement of Aaron Klein at roundtable on America’s unbanked and underbanked Chairman Himes, Ranking Member Steil, members of the Committee, thank you for inviting me to participate at this roundtable on America’s unbanked and underbanked. I laud the Committee’s attention to these substantial problems that impact approximately one out of... By Brookings Institute, Financial Regulation Brookings Institute
report December 2, 2021 An AI fair lending policy agenda for the federal financial regulators Algorithms, including artificial intelligence and machine learning models (AI/ML), increasingly dictate many core aspects of everyday life. Whether applying for a job or a loan, renting an apartment, or seeking insurance coverage, AI-powered statistical models decide who will have... By Brookings Institute, Financial Regulation Brookings Institute
report November 29, 2021 China’s payments u-turn: Government over technology China has been at the forefront of a technological revolution in payments in both its private and public sectors. China’s tech firms succeeded in replacing the bank-based magnetic striped card world with a tech-based QR code system. Then the... By Brookings Institute, International Financial Institutions Brookings Institute
report November 16, 2021 Credit scoring: Improve or eliminate? Your credit score plays a major role in your life, impacting your ability to rent an apartment, buy a house, get a credit card, and even how much you pay for auto insurance. These three-digit numbers, graded on a... By Brookings Institute, Financial Institutions Brookings Institute
report November 8, 2021 How Fintech Companies Can Mitigate the Racial Wealth Gap On November 2, 2021, Brookings Metro Fellow Kristen Broady testified to the U.S. House Financial Services Committee’s Task Force on Financial Technology, during a hearing titled Buy Now, Pay More Later? Investigating Risks and Benefits of BNPL and Other... By Brookings Institute, Testimony Brookings Institute
report November 4, 2021 Low-cost and shrinking: Hamilton County, Ohio Navigation November 4, 2021 Hamilton County is a declining population, low-cost county located in a low-to-moderate cost, slow-growth metropolitan area (Cincinnati, OH-IN-KY). Seven of the 16 metro area counties saw population decline from 2009 to 2019, and half of the... By Brookings Institute, Essay Brookings Institute
report November 4, 2021 Expensive and growing: Loudoun County, Va. Navigation November 4, 2021 Loudoun County is rapidly growing, high-priced county located in a growing, high-priced metropolitan area (Washington, D.C.). All but one of the metro area’s 25 jurisdictions saw positive population growth from 2009 to 2019, and eight jurisdictions... By Brookings Institute, Essay Brookings Institute
report November 2, 2021 An analysis of financial institutions in Black-majority communities: Black borrowers and depositors face considerable challenges in accessing banking services Introduction Achieving the American dream—the opportunity to succeed, to provide food and shelter for family members, education for children, hope for a better life, and freedom of opportunity— requires capital. But, in the United States, access to capital for individuals... By Brookings Institute, Report Brookings Institute
report November 2, 2021 Focus on bank supervision, not just bank regulation Introduction Last month, the Biden administration made headlines nominating Cornell Law School Professor Saule Omarova to serve as Comptroller of the Currency, a position from which she would oversee the National Banking System. Omarova’s nomination has drawn sharp criticism from... By Brookings Institute, Financial Regulation Brookings Institute
report October 28, 2021 Introducing the Brookings and Ashoka Collaborative Innovation Challenge: Valuing Homes in Black Communities The time has always been right to address discrimination in housing. But since the release of the 2018 Brookings report, The devaluation of assets in Black neighborhoods—which showed homes in Black-majority neighborhoods are priced on average $48,000 less than... By Brookings Institute, Post Brookings Institute
report October 26, 2021 Where is the Fed Vice Chair for Supervision? Randal Quarles, the first Trump appointment to the Federal Reserve’s Board of Governors, finished his four-year term as the Vice Chair for Supervision on October 13, 2021. To replace him, President Biden has nominated no one. The Fed replaced... By Brookings Institute, Financial Regulation Brookings Institute
report October 20, 2021 Policymakers must enable consumer data rights and protections in financial services After years of inactivity, momentum is gathering for policy action on issues related to consumer financial data in the United States. In July, the president issued an executive order encouraging the Consumer Financial Protection Bureau (CFPB) to enable data... By Brookings Institute, Financial Regulation Brookings Institute
report October 18, 2021 Stability and inclusivity of stablecoins: A conversation with Circle CEO Jeremy Allaire While cryptocurrency has been around for over a decade, it has only gained mainstream popularity recently. Crypto backers see the technology as the way of the future, but its instability leaves others skeptical. As a less volatile alternative to... By Brookings Institute, Financial Institutions Brookings Institute
report October 18, 2021 The US needs urgently to raise its macropru game Donald Kohn Robert V. Roosa Chair in International Economics Senior Fellow - Economic Studies Implementing robust macroprudential policy—addressing threats to financial stability beyond those that were the focus of safety and soundness on an institution-by-institution basis or of investor protection market-by-market—was a... By Brookings Institute, Financial Regulation Brookings Institute
report October 5, 2021 Regulating stablecoins isn’t just about avoiding systemic risk It’s good news that financial regulators are focused on figuring out what to do about stablecoins because their growth is creating significant risks. But there’s a bigger picture here than how to bring these new instruments within the regulatory... By Brookings Institute, Financial Regulation Brookings Institute
report September 28, 2021 The risks of US-EU divergence on corporate sustainability disclosure Sustainability disclosure is in vogue, with more than 80 percent of major global companies reporting on some aspects of their social and environmental impacts. This is partly driven by growing calls for transparency by civil society organizations and environmental,... By Brookings Institute, Post Brookings Institute
report September 24, 2021 Can fintech improve health? Abstract Access to electronic financial services, in particular digital money, has replaced the digital divide as an unintended yet significant barrier for low-income individuals to participate in new technologies, including those that lead to better health outcomes. This paper explores... By Brookings Institute, Financial Regulation Brookings Institute
report September 9, 2021 Financial technology: A hidden path to a healthier outcome? New financial technology (fintech) is transforming how people use money. Money, whether by its presence or absence, has an impact on health. What are, then, the health consequences flowing from fintech? The answer is even more important if access... By Brookings Institute, Technology & Innovation Brookings Institute
report August 27, 2021 Building a more stable financial system: Unfinished business Twice in this still-young century central banks have had to take steps, unprecedented in size and scope, to limit the economic fallout from financial instability. While we can’t expect a financial system to withstand an overnight shut down of... By Brookings Institute, Financial Regulation Brookings Institute
report August 26, 2021 The future of money: The end of cash and the rise of digital currencies Are we heading for a cashless future? Eswar Prasad, a senior fellow at Brookings and author of the forthcoming book, “The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance,” thinks so. Credit card and cell... By Brookings Institute, Financial Regulation Brookings Institute
report August 17, 2021 Where are the Biden financial regulators? Seven months into the Biden administration and despite rising attention to a host of diverse issues in financial regulation and monetary policy—notably concerns about inflation, central bank digital currencies, retail investing, stablecoins—the president has shown little appetite for filling... By Brookings Institute, Financial Regulation Brookings Institute
report August 3, 2021 What is swing pricing? The problem In March 2020, at the start of the COVID-19 pandemic in the U.S., investors pulled more than $100 billion out of corporate investment-grade and high-yield bond mutual funds, forcing funds to sell some of their holdings. The spread... By Brookings Institute, Financial Institutions Brookings Institute
